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Brian Farmer (PA) & Steven Smith

Billionaire must pay £3.5m a year to wife during court battle

A billionaire real estate developer embroiled in a divorce fight must pay out more than £3.5 million a year until a judge decides how much money his estranged wife should walk away with.

Michael Fuchs, who comes from Germany but moved to the United States in the 1990s, and former journalist Alvina Collardeau-Fuchs, who comes from France, are fighting over money in a London court.

Mr Justice Mostyn, who is based in the Family Division of the High Court, on Monday made rulings about how much maintenance Ms Collardeau-Fuchs should get while the fight continues.

The judge said a final hearing was due to start on October 10.

He ruled that Mr Fuchs, 62, should pay Ms Collardeau-Fuchs, 46, around £70,000 a month maintenance - more than £800,000 a year.

Mr Fuchs had said he would also cover the cost of staff and other overheads - and the judge said those expenses totalled about £2.7 million a year.

The judge said Mr Fuchs' "overall liability" would be "an approximate annual rate of £3.64 million".

Ms Collardeau-Fuchs had wanted £130,000 a month maintenance - Mr Fuchs had offered £31,000 a month, the judge said.

The couple, who have two children, had married in New York in 2012 and separated about two years ago, the judge heard.

Mr Justice Mostyn was told that towards the end of the time together, they had "global annual living costs" of about £900,000.

He heard that Mr Fuchs had enjoyed an "extraordinarily successful career" and had owned a "very significant amount of prime Midtown Manhattan real estate" before marrying Ms Collardeau-Fuchs.

Mr Justice Mostyn said the couple had shared a home in London, where Ms Collardeau-Fuchs still lived.

He said the property had six floors, five bedrooms an an indoor underground swimming pool and, historically, a retinue of staff had been employed, including two rota chefs, a house manager, two or three housekeepers, and a laundress.

Mr Fuchs had told the judge that the property was worth £30.2 million and was subject to a mortgage of £21.5 million.

The judge heard that there was also a villa in Antibes, France, and a penthouse in Miami, Florida.

He said the overheads were "enormous".

Mr Justice Mostyn said the divorcing couple had already spent more than £900,000 on lawyers between them - Mr Fuchs more than £450,000 and Ms Collardeau-Fuchs more than £460,000.

He had ruled, at a recent preliminary hearing, that they could be named in media reports.

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